Monken Hadley leasehold conveyancing: Q and A’s
I am intending to rent out my leasehold flat in Monken Hadley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Monken Hadley do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Planning to exchange soon on a basement flat in Monken Hadley. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Monken Hadley should include some of the following:
- You should receive a copy of the lease
I own a leasehold flat in Monken Hadley. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Monken Hadley who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. You do not need to instruct a Monken Hadley conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agent office in Monken Hadley where we have experienced a few flat sales jeopardised due to short leases. I have been given contradictory information from local Monken Hadley conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Monken Hadley. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Monken Hadley conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Monken Hadley premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The unexpired lease term was 76 years.
In relation to leasehold conveyancing in Monken Hadley what are the most common lease problems?
Leasehold conveyancing in Monken Hadley is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.